Suze Orman TwitterSuze Orman FacebookSuze Orman YouTubeSuze Orman LinkedIn
View Blog & News List

Will Your Holiday Spending Pass This 3-Question Test?

November 05, 2015 at 12:00 AM

We’re heading into the dangerous money season. With the holidays quickly approaching it’s that annual time of year when the goodness of your heart can lead to very bad results: You overspend on gifts, dining out, or nights out on the town. 

Then come January the bills come due and you are in a big financial fix that either ends up with you running a credit card balance at an insanely high interest rate, or you scale back important financial goals-adding to your emergency fund, increasing your retirement savings-because you need more cash to pay off your holiday spending binge.

I can help you avoid this big financial mistake. All you need to do is memorize my 3-question test:

Is it kind?

Is it necessary?

Is it true?

Those are the three gatekeepers I personally use when I have a decision to make. I slow down and carefully ask myself all three questions. I will not do something if it is not kind, to me. Necessary, for me. And true to what I need and what I believe.

Those three gatekeepers can help you slow down before you overspend this holiday season. A gift purchase that comes from the deepest, purest place in your heart is nonetheless a mistake if it is not kind, to you. What do I mean by that? Well, if you can’t really afford the gift it’s a bad choice. Generosity is a two-way street. It must be as evident for the giver as the recipient.

No gift that explodes your budget is necessary. And don’t tell me you feel obligated to buy gifts, even though you know it’s not a smart financial move. People you love would be ashamed to know you over-extended yourself to give them a gift that isn’t affordable. And for all the other people in your life you don’t deeply care about, a gift is not necessary. A heartfelt note is all that is necessary.

 And I always want you to make sure you are standing in your truth when you make any decision, whether it is a $25 gift purchase or a $250,000 home purchase. Always ask yourself if what you are about to do jibes with who you are, what you care about, and your goals. Staying true to yourself is the kindest gift you can ever receive. You deserve it. 

Tag Cloud

term life insurancecredit unionautomate student loan paymentsLong Term Care shoppingreplace permanent life insurance with termFICO Scoredebtannual cost of living adjustmentclosing costs 2% of loancollege studentretirement accountsno life insurance financially irresponsibleHow To Build Creditloan is giftis it kind?New american Dream pay down car loancostly insurance mistakepositiveMoney Markethealthy gumshigher insurance deductibleFiscal Responsibilityprofessional advisorage appropriate choreMarlo ThomasRichno retirement funds for down paymentresponsiblesuitablecommunity bankfinancial aidsocial workstay positivenew carfederal student loan deferment dear suzepaid in fullfocus on needslet them have 50% controlmortgage disclosureGay Couplesallowanceemergency fund savings15-year refinance dealbad retirement planningthree year car loanstudent loan repayment estimatorBeauty3 bucket approachearn more on savingslife insurancelowest cost fund optionphysical healthfinancing car Save Us Moneybreakdown projected monthly housing costrefundPBS Specialhigh premiumsStudent Debtcut monthly cellular billat worst still pay 75% benefitretirment savingscommitMinor Children get credit cardshort term goal focus on new truth Alarm Clock20% equitySandy Hook Elementary Schoolage appropriate goalsdon't defer interest paymentstake actiondangerous retirement planno waiting periodmortgageadult childrenUniversity of Illinoisidentity fraudpay more than minimumstudent loan debt6 month waiting periodRoth 401(k)financial fearsretirementhome insurancepaid vacationSuze Orman's Money WarsHDHP open enrollment review Suze changed my lifecomparison shoppingcreate new truthhealthy retirement weightdental discount planbill paying prioritiesback-to-school budgettax refund fraudproperty taxCOLAescrowWall Streetcompare provider pricingterm insurancedangerous money seasonSuze Ormanfamily save at least $100 monthlyprotect and provide for minor child borrowing plan consider roth 401(k)FRA30 year mortgage 2015 record year car salesno interestHolidaymax benefit coveredSandy Hook Promiseplanclosing disclosureHigh Credit ScorestudentInfluential Celebritylong term goalStudent Debt Crisisbad decisionslearn good financial choicesSelfishpoint cost offset by savingsborrow each year, capitalization is going to pile up 8 month safety netSuze Orman spouse Kathy Travisdepreciating asset raise your deductible10 year repayment plan Revocable Living Trusthighest possible benefitcar loanGay Rightsoverspend on nights outEric Dodge gift grandchild IRA contributionwomen longer life spanallowance taskultimate compounding giftdeath benefit 20 to 25 times annual incomeInterestbudgetcommissionsTelepicturestelevision hostretain separate credit cardsavoid burn outGracesummer job match income OverspendingARMlow mileage discountclosing feesdon't blow tax refundpush yourself to save more for retirementburn outRetirement Incometeens and money740 credit scoreHDHP'skeep a scheduledoctors in networkPersonal Financedo you need life insurancemortgage interest tax deductionForbes Top 10too expensive schoolhome budget after tax costcar leasingrising home pricesbecome member mobile appFinancial AwarenessLTCi ASAPvalue moneyinitial tax break money vowsAmericans don't use all paid vacation timemax employer matched 401(k) contribution401(k) Contributionsis it necessary?loan necessitybuy down contribute household expenses 40% toward financial goalJose Rodriguezbest loan deal US Tax CodeSchool of Social WorkLong Term Care premiumsYoung Adult increase retirement savingsAuto Savings marriage inequalityalways use all paid time offdon't do five year car loanchildren's bookVital Documentsdream schoolFinancial Advicedeath benefit needs for familyis it necessaryface your financial fearbe true to yourself8 Rulesno private loansUniversity of Floridaunsubsidized Stafford loanspring summer Exhibitionpublic service career student loan repayment community collegeiffy incomehousing market15 year mortgagemake saving a pleasureincentives for health care wellness screeningdon't extend mortgage FHA loan feesno tax on withdrawlsonly refinance if it paysautomatic withdraw to savings get the most out of social security Bankdon't charge a pennyCiti Simplicity Card save moneyoverspend on dining outco-sign better loan rates2016 adjust withholdingaffordabilityEmergency SavingsFICO credit score credit card mortgageIRA contribution gifted moneygift not loanprotect loved ones mortgage brokerpowerfulCNBCcontribution AARPlive below your meansfull retirement age4 Must Have Documents same sex marriage band end Floridapay 100% cashmonthly dental insurance premiumCollege of Veterinary Medicinemarriage financial responsibilitystandard deduction secure creditStudent Loanmanage student loanssame-sex marriagewomen long term careemployer funding HSAno private loanloan no longer than 36monthsWarner Bros Television Groupcost of capitalization calculatorSatisfying3 step financial road mapverify retirement plan with HR or plan sponsorworst financial mistakewomen outlive men2017 Taxespay interest while in schoolcredit cardroth iraapproved medical 100% tax-freeAARP Social security calculatorearn allowancefraudulent returnStaffords this year have a fixed 6.8% interest rateinsurance yearly reviewCPI-Wincrease emergency savingsignore 6 month grace period four steps to retirement savings ritual schedulepay high rate off firstitemized deductionheartacheFinancial EducatorHeartletter to suzegraduationbuying car 2016LTCnot enough life insuranceinterest on student loanspay off debtpermanent life insurancenot gender specific social security not going brokePost-Divorceholiday spendingLegal Guardianpay credit debt ASAPadvice for college graduatesreduce monthly paymentPrime Rate IncreaseInfluentialsfinancial independenceaccelerate dental workcouple financesno apologyOne Wallet At A Timespeak new goalFundslow down paymenthealthy retirement blood pressureidentity theftLong Term Care Insurance prescription tiercredit utilization ratehigh deductible health care planno sneaking in feeswrite new goalSpendinglower ratehome related tax break bonus successalternative FICO scorederailed planDeath Benefitemergency fund raising interest ratesstandard rateTeachAdequate Auto and Home InsuranceGifthome ownershipPrime Rate Rise 2015long-term care social securitystore credit cardsBaby Boomerscompare monthly expensesis it true? adjust allocations lower overall drug costknow before you oweteenscredit reportEmployer Matched Contributionbuy homehome buying budgetFederal Funds Ratedon't cover cosmetic dentistry50 over 50charges on credit cardHDHP's are not badlife insurance name trust as beneficiaryteach your child good money habits8 month emergency fundARM Cautionlow credit scoregrandchild summer job IRA contributionSwap Older Annuities or Life Insurance strained relationshipaffordable premiumstudent loan repayment planprovider of financial supportrequired disclosuredon't ignore open enrollmentdental insurance CD's19 years cash flow problemSuze Orman ScholarshipInvest for savings growthhealthy aging Changing Livesinsurance mistakebuying a carinterest capitalizationgift up to 14,000loan big picture waive home inspection bidretirement planvalentines daySuze approvedPhyllis Shelton expert long-term careAshley Springersave traditional vs roth 401(k)employer offered life insurance20 year level term home loan credit score below 740 MotherMortgage Credit Availability Indexbalance transfer Stock Investmentsno splurge would you decline a bonusorigination fees3% debt transferred long-term care premiumsfile taxes quicklystretch out haircut appointmentswomen live longerpaying for collegeresponsible with moneyETF'spresident Obamaengaged in financespurely financial standpoint2016 adjust estimated taxGiftsdon't spend shorter payback periodswitch to spouse coverageverify wellness screening and programshome buying mistakesRetirement SavingsHDHP's are good for youget over life insurance phobiaHoliday Shoppingenjoy saving ForbesPay Off Debt Before Retirementworkaholicchildren under 18lousy investmentrent vs buypublic service loan forgiveness programquick closingAmy Lacyet20% down paymentCory Bookerhigher monthly payment2015 financial roadmapkid borrow firstraise deductiblessavings pleasurewives should be involved in retirementadd teenleave a legacyone annual feebig results Bill and Pennyfile asapBankruptcydon't buy wantsCredit scorebest interest of investornear historic lowsFederal ReserveCredit Card Rate Increasecar buying mistakesdebt freeHSA tax savingslower premiumdon't derail retirement savingsFinancial Power of Attorney3 savings buckets Easy Life Insurance High FICO Score = Better Ratenegotiate points with bank or sellerdon't use allowance as bribelow-cost index mutual fundincrease retirement contribution raterequire chore in exchange for allowanceAccuQuote.combetter termsCombo Insurance Productsraising mortgage rates calculate dependents annual income needshigh down paymentlong term carejanuary billssecured cardno late fee zero rate transfer dealskids schedule paymentsoverspend on giftssocial security never insolventhome buying seasoneight month living expense special saving accountFederal Stafford loanFinal Goodbyelower interest raterefinanceFinancial Awareness Video FestivalrolloverFinancialmonthly benefit doctor no longer in networkFinancial Solutions For You20 to 25 times annual incomehealthy teethpremiumFixed Rate Mortgageone credit cardback door Roth IRAfiduciaryhigh FICO scoretitle insuranceLifestylesavingsemotional stakesfinancial goal phrasecnbc alarm clockschool 401Kmoney-aware childMoney-Savinghigh credit score discountpeace of mindanticipated salaryswitch to roth 401(k)pay down student loan debtCommunication Skills student loan repaymentFederal PLUS loanpreexisting condition not coveredtaxesbe kind to yourselfMoneystaycation20% down payment avoid feesno negativityHoliday Seasonlower mortgage interestLTC shoppingget health insurancebetter loan dealsFinancial Gift Cliffbuy home you can affordUrbana-ChampaignNew York Lifepercentage of women widowed 75-84non conventional routeSuze is my biggest mentorovercome financial fearsMust Have DocumentsThe Suze Orman Showcut monthly cable billunexpected expenseDurable Power of Attorney for Health CareVeterinary SchoolRevocable Trustloved ones dependent on incomeeliminate credit card debtsetup automatic savings withdrawmental healthtax ID theftLovereal estate mistakesprotect dependent confidentshop online guaranteed level term policyreferrals Washingtondo not pay allowance for good behaviorpercentage men widowed 75-84dental savings planfinancial argumentsjuggle multiple financial goalsmax employee matchWillbe good examplesmall changes credit managementgrandparent IRA contribution Goodbyeexercise reguarlyautomatic paymentFree Debt Eliminatordebit cardunder 18 financial giftbest interest ratesprotect your familyteach importance of helping othersmaintain standard of livingcostly legal FICO at least 720Mass Mutualhealthy youFinancial Cliffraise insurance deductibleForeclosureHDHP/HSA10% donate to charityInflation Benefitinsurancecollege graduateMost Influential Celebrities Listreduce withholdingincreased auto insurance premium!00% tuition paidsidelinedcan you afford itCommencementonly offered while employed schedule vacationCivil Rightsreal estate marketConventional loan PMIuniversal college accessyours, mine & oursmultiple lendersgay marriage ban end Florida SelectQuote.comreduce interest rateNewtownmeet monthly financial concernno fee transferconfident of solutionrepay student loansCredit Card Interest RateFinancial System

View Blog & News List
People First. Then Money. Then Things.
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
© 2017 Suze Orman Media Inc. All rights reserved.
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel